Oruka Therapeutics Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update

Core Insights - Oruka Therapeutics is advancing its clinical pipeline with ORKA-001 and ORKA-002, targeting chronic skin diseases like plaque psoriasis, with significant clinical data expected in the coming years [1][2][3] Financial Overview - The company successfully raised over $475 million in 2024, providing a cash runway through 2027, which is over one year past the anticipated Phase 2a data for ORKA-001 [1][12] - As of December 31, 2024, Oruka had cash, cash equivalents, and marketable securities totaling approximately$394 million [7] - The net loss for the fourth quarter of 2024 was $25.8 million, with a total net loss of$83.7 million since inception [11][18] Research and Development Updates - ORKA-001, a novel IL-23p19 monoclonal antibody, is currently in a Phase 1 trial, with interim pharmacokinetic data expected in the second half of 2025 [1][5] - A Phase 2a proof-of-concept study for ORKA-001 is planned for the second half of 2025, aiming to enroll around 80 patients with moderate-to-severe psoriasis [5] - ORKA-002, targeting IL-17A/F, is set to enter Phase 1 trials in Q3 2025, with preclinical data to be presented at the 2025 AAD Annual Meeting [1][12] Clinical Development Strategy - The company aims to deliver clinical catalysts every six months, potentially establishing ORKA-001 and ORKA-002 as leading treatment options in psoriatic disease [2] - ORKA-001 has shown a half-life in non-human primates exceeding 30 days, suggesting the potential for extended dosing intervals [5] - The innovative study design for ORKA-001 includes a primary endpoint of PASI 100 at week 16, which is more stringent than previous studies [5] Additional Programs - Oruka is developing ORKA-021, a sequential combination regimen of ORKA-002 and ORKA-001, which could enhance treatment responses [12] - The company plans to disclose further details on ORKA-003 in the first half of 2025 [12]